StockNews.com Begins Coverage on Luna Innovations (NASDAQ:LUNA)

StockNews.com began coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research note published on Monday morning. The firm issued a sell rating on the scientific and technical instruments company’s stock.

Luna Innovations Price Performance

LUNA opened at $0.71 on Monday. The business has a fifty day moving average price of $0.85 and a 200 day moving average price of $1.46. Luna Innovations has a 12 month low of $0.65 and a 12 month high of $3.95.

Hedge Funds Weigh In On Luna Innovations

Institutional investors and hedge funds have recently modified their holdings of the company. Prudential Financial Inc. acquired a new stake in Luna Innovations during the fourth quarter worth approximately $39,000. Founders Financial Alliance LLC acquired a new stake in Luna Innovations in the fourth quarter valued at about $43,000. XTX Topco Ltd purchased a new stake in shares of Luna Innovations in the third quarter valued at approximately $55,000. Raymond James Financial Inc. acquired a new position in shares of Luna Innovations during the 4th quarter worth $57,000. Finally, Virtu Financial LLC purchased a new position in shares of Luna Innovations in the 4th quarter valued at about $78,000. Institutional investors and hedge funds own 87.46% of the company’s stock.

About Luna Innovations

Luna Innovations Incorporated provides fiber optic test, measurement, and control products worldwide. The company offers test and measurement equipment for fiber optic components and sub-assemblies; polarization control products, including components, modules, and instruments to measure, manage, and control polarization and group delay in fiber optic networks; tunable lasers; and single frequency lasers.